WE WILL COOPERATE, SAYS PIA BOARD CHAIRMAIN

THE Pensions and Insurance Authority (PIA) board has undertaken to cooperate with relevant authorities and allow the law to take its course over the arrest of three of its officers for alleged abuse of authority of office. This week, police arrested PIA registrar, Christopher Mapani, Deputy Registrar Insurance, Titus Nkhwale, and Manager Compliance and Insurance, Nicholas Mbuya. on two counts of abuse of authority of office. It is alleged that the three abused their authority of office by approving the appointment of Tobias Milambo as Chief Executive Officer of Ultimate Insurance Company Limited. In count two, they are alleged to have abused their authority of office and issued a 2020 Insurer’s general license to Ultimate Insurance Company Limited. PIA board chairperson, Petronella Mwangala, said the PIA would continue to discharge its regulatory and supervisory functions in line with its statutory mandate. Ms Mwangala said the board had noted with concern, recent events relating to the authority, including the arrest of three of its senior members of staff. She said the board was fully aware of the matter, which related to a decision taken by the authority in the course of discharging its functions. The board, she said, would cooperate with all stakeholders and allow the law to take its course. “The Authority will comprehensively address the issues in the Press at an opportune time. The Board further wishes to reassure the public that the Authority remains committed to protecting the interests of Pension Scheme Members and insurance Policy Holders. “To that end, the Authority will continue to uphold its core values which include integrity, accountability and confidentiality,” Ms Mwangala said.